With the dividend although it will be far lower than last years. Hong kong media tycoon released on bail. His broken National Security laws beijing has branded him guilty. Breaking news out of south korea. We are getting Unemployment Rate numbers, and again, surprising to the upside. They fell to 4. 2 in the month of july, this after surprising to the upside the previous month, falling to 4. 3 in june. Of course, we have seen more job creation efforts. In fact, we just heard from south koreas Ruling Party Leader saying south korea will actively consider a fourth extra budget if needed. South korea has already pledged more than 225 billion in stimulus measures or roughly 14 of gdp to help put a floor on the jobs market, and right now, the july Unemployment Rate falling to 4. 2 . Lets turn to the markets and bring in Sophie Kamaruddin in hong kong. What are you watching . Korean alongside the jobless numbers, we are waiting on Australian Consumer confidence, due out later this morning, and this morning, we have also about the latest on dates from victoria state on their virus cases. 410 new virus cases and 24 hours in 24 hours, recording 21 deaths during that period. We are seeing upside moves potentially for aussie stocks this morning on a broadly mixed session potentially after we saw the msci aipac raise yeartodate losses on tuesday and s p eminis gaining ground as we get the latest developments on u. S. Politics. We are seeing downside for kiwi stocks falling as much as 2. 6 as the covid free run ends in new zealand but this may be a shortlived pullback. Ahead of the decision, we are seeing the kiwi dollar staying below 66. Implied fall has vol has jumped. Provide an attractive entry point given the lower rates. On the earnings front, Cathay Pacific and tencent due to report. Tencent has enjoyed 2020s global tech rally, which jump into the terminal, has helped the kospi rise to a twoyear high on tech fueled demand to beat almost all National Benchmarks with the exception of argentina. Samsung has been the biggest boost followed by lg, plus biotech names have been at the top of the world, guys. Asia tech still being seen as compelling and virus proof as an investment right now according to the ceo of pepper international. Lets get over to carol now. But is it politics proof . Theave seen tencent, one of most eyeopening rallies or 2020 awaiting earnings, worse, but that has essentially come to a halt with just that executive order from President Trump. Think, is true, but i you know, politics, during an election, is a bit of rhetoric. If you look beyond november, which will be upon us before we know it, the strength of the tech names will continue to run because we will continue to be in this virus situation for at least another year. Companies, ifain they cannot get into america during the next three months, theres lots to be done and the rest of the world. Hence the rallies. In particular, what opportunities do you see an issue within that tech space . Will you still find valuations look like they are still appealing . Carol they are still appealing. It is nice to go in on a basket approach. Shares etfhe beta which will give you the basket of all the big tech names. We are just at the beginning of this rally. The virus has shown us people can switch over to remote living and learning and i think we will be that way for at least another year, 1. 5 years. Today ore get the cure into years, people will continue to do a lot of activities remotely. That work in that trend will continue to do extreme the well. Shery softbank launching a new venture to buy stocks in publicly traded Companies Pay how much exposure would softbank give you . Carol i love softbank. I think it is a great play. Its interesting how they turned around the company with a couple of smart sales this quarter and it is interesting to note that softbank is going into the large u. S. Tech names at this valuation level. What does that tell you . Some of the biggest geniuses in tech cbr really at the beginning of a global shift and that there is a lot more runway for all the big tech names. I think that is why they are going into this new Asset Management business and focusing on the public tech names. I love softbank. I think it is a good play. Clearere are getting a picture of what november would look like in terms of the president ial election, now getting joe bidens Vice President ial pick with Kamala Harris. How do you trade that . Carol if you believe that biden is going to win, then i think that means if and when he wins it will not be until january or march. We will hopefully get a National Virus strategy which we have not had. We will get the virus under control more quickly and once medicine is ready, and that is a bit . Big question. The lockdown will last for a shorter period of time and we will have a turnaround more quickly and i think that means but in the meantime, we are probably going to have a lot of chaos in september, november between september, october, november. When and if there is a selloff, buy value or the big names because the selloff will be shortlived and then we will be back up again. [no audio] carol, in terms of the Market Reaction we actually saw when the news of bidens pick actually came out, we saw dollar trading putting much sideways, futures coming off the bottom. Is there a sense of cautious optimism . In part, as you say, perhaps more of a cohesive virus strategy, but also a straight talking, well communicated economic strategy. The fact that she is on the Senate Budget committee, does that add to her credentials in terms of being able to really beef up the expectations of managing the economy out of the downturn . Carol definitely. I think she is a professional. I think her prosecutor uriel prosecutorial mind is a good addition because she is fact and science focused and she is very practical. We need people that are speaking to the American People will with truth and getting things organized and moving forward quickly. Shes also frankly perceived as a moderate here and that will also make the markets happier than if she was perceived as a hard left candidate. She is really not a hard left. She is much more towards the middle and i think that is actually a positive towards the market. Ceo ofcarol pepper, pepper international. Still ahead, more perspective on why joe biden has picked california senator Kamala Harris as his running mate. Next. Est joins us class softbank is creating an Asset Management arm to invest in publicly traded stocks. We will discuss masayoshi sons strategy later. This is bloomberg. Karina you are watching daybreak asia. The coronavirus outbreak continues to spread around the world with u. S. Accounting for a quarter of all cases and florida reporting another day of record deaths. Hong kong may be bringing its outbreak under control, reporting the lowest number of new infections since the resurgence began a month ago. The city south32 new local saw 32 local cases. The virus is dragging on indias recovery with factory output down a fourth straight month in june as the economy struggles to reopen. The index of Industrial Production fell more than 16 , albeit less than the 21 decline seen in a bloomberg survey. India is heading for its first fullyear contraction in more than four decades. The imf seeing gdp shrinking by 4. 5 . New zealand Prime Minister has put auckland under a new lockdown after four cases of the virus were found in one city household. Days ofovery ends 102 no Community Transmission with only cases quarantined at the border. The new restrictions will last for 72 hours. Most schools will close along with dennis. Along with bars and restaurants. Global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I am karina mitchell. This is bloomberg. Haidi. Ondi karina, getting more new zealand, after auckland is being put into a threeday law down following the first Community Transmissions of covid19 in 102 days, we are now hearing from the Prime Minister, saying that there have been increasing calls to delay the election. She acknowledged that is possible but that no decisions have been made yet. They were meant to dissolve the parliament on wednesday ahead of the general election, which has been set for september 19. No decisions yet have been made on whether to delay the election but the dissolution of parliament will now be delayed and no longer happen on wednesday. Auckland going back into stage three restrictions in that lockdown to try and contain those four cases which i should mention are within one family unit. Shery lets turn to what is happening in the u. S. , especially headed towards the president ial election. Joe biden has named california senator Kamala Harris as his running mate for november, betting her ties to the Africanamerican Community will help propel him to the white house. Harris becomes the first black woman and the first asianamerican on a major Party President ial ticket. Joining us now is Bloomberg Contributor jeanne zaino. Question is, how much does she help bidens prospects in november . Jeanne normally, a Vice President ial running mate does not change votes all that much. It usually gives voters an indication as to the type of decisionmaking prowess, the person that the top of the ticket has. This is the most important decision they make during the campaign usually, and certainly, joe biden took his time and i think it is so it speaks to the fact that he did pick somebody that by all accounts was a solid pick and answered the call of the moment. I think from that perspective, it does not necessarily change votes. That said, this is a different year from a variety of perspectives. Not only are we in the midst of this pandemic, but also, we have a candidate, who if he is elected, will be 78 when he is and are graded so theres a lot more eyeballs on his Vice President ial pick. He needs to show voters he is not a risky choice, that he will to somebody to run with him who can step in and do the job if you cannot do it so i think from that perspective, she is going to get a lot more, you know, focus from voters than a Vice President ial candidate running mate might have. You mentioned there is the historic nature of the pick, being the first africanamerican woman, the first woman of asian descent. Only the third female Vice President ial pick in american history. Shery especially given she was a very prominent advocate of Racial Justice legislation after the death of george floyd. I want to ask, how much to ask, how much do her policy priorities mirror that of joe biden, especially when it comes to the Foreign Policy area . We do have the ongoing u. S. China tensions. Jeanne absolutely. Just to what you said, she announced her candidacy on Martin Luther king day. Somebody who went to a historically black college. That is a very important aspect of who she is. Policy, of her foreign this was something i was surprised joe biden seemed to take as seriously as he did during this selection process, particularly in looking at susan wright susan rice. What biden has recognized is while Foreign Policy does not usually play a huge role in peoples minds, this year, because many voters see donald trump in terms of his Foreign Policy and the way that he has goingched it as somewhat on an impulse towards destabilization in some ways, it will be important. In the choice of Kamala Harris, he picked somebody who has a background in Foreign Policy, certainly by way of her roles on the committees in the senate which have been important. Not as strong perhaps as somebody like susan rice or somebody he could have chosen, but her views seem to line up with joe bidens, particularly since she is something of a pragmatist. Tooher to farleft farleft or too far in the middle. There is some criticism that she tends to flipflop a little bit as she did on a domestic issue Like Health Care during the campaign. Haidi i want to draw to your attention some of these comments jeffrey made recently about the vp pick. Pretty these quotes are remarkable, saying he thinks harris is a little bit too charismatic, also saying she is too dominant. We know the issues that hillary had on the president ial ticket. As a woman. Add in the issues, the context of race, and the culture wars we have been talking about in the u. S. , how much is this going to play into november . Jeanne i think it is absolutely going to play in. We saw some of that coming out of bidens own vetting team. Some comments were made which many women during the conference found objectionable in terms of describing harris in the way you just mentioned or a way that is too ambitious, and people have taken exception to that. The plight of female politicians in the United States the hope for many women but also africanamerican women is that because more people will be able to see an africanamerican woman in this position running for the second beach, that may change some minds in that regard. And she will be judged the same way her male counterparts will be judged. Haidi jeanne zaino with us. Do not miss our special coverage of the Democratic NationalConvention Taking Place next week. Plenty more to calm on daybreak asia. This is bloomberg. Haidi hong kong has been released on bail after his arrest monday for alleged breaches of chinas National Security law. Our chief north asia correspondent, stephen engle, joins us with the latest. What happens now . Stephen now, the prosecutor prosecutorial process begins. Declining to speak to media. Ins after about 36 hours detention where police raided his hong kong headquarters as well as his yacht. It has raised a lot of concerns about the reach of the National Security law and about whether it is actually retrospective and about the preservation of press freedoms and other activists also have been let out on bail. Agnes chow was out on bail early this morning and, she had to surrender her hong kong passport, told to return to police on september 1. This is going to be an ongoing story, but so far, the main people who were arrested in the latest round of Police Action under the National Security law are at least out on bail right now. Shery we are also hearing china has given its blessing to the one year extension of the current legislative term in hong kong. How significant is this . Stephen it represents a second time in as many months that chinas parliament, the National Peoples congress, the Standing Committee of that body, has waiting to interpret the basic law here in hong kong. Basically, the Standing Committee passed a resolution kongsay to allow hong current Legislative Council session to continue for no less than one year, and even the terms of those lawmakers who were disqualified would have their terms extended. This of course after carrie lam basically postponed Legislative Council elections by one year. Because of the coronavirus outbreak. Shery stephen engle, our chief north asia correspondent with the latest from hong kong. Relations between beijing and washington are worsening. Not only over hong kong but also taiwan. This weeks highprofile u. S. Carlato taipei, we asked freeman of Johns Hopkins school of advanced International Studies how taiwan plays into the u. S. China tensions. Taiwan is a country that has limited International Recognition because to have relations with the mainland with china, you cannot recognize that the medically taiwan. Taiwan has managed to have a successful economy in the world and it has preserved a very strong relationship with the United States, which has provided it with security to threat of against a military action by the mainland, china. What does that gain . If there is a legitimate mainland threat, what is the process you see . Does taiwan defend itself . Eitherwe defend them, militarily or through the discourse we have available in diplomacy . Carla to hope was that diplomacy would prevail, and the United States has helped secure taiwan by providing it with a defect to Alliance Relationships but also by providing it with military equipment to give it a credible defense capability against the military threat from beijing, but the hope was that beijing and taiwan would work out some kind of arrangement, hasso far, the relationship continued to be tense. Although the relationship not a relationship between taiwan although t